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Verint Systems posts higher revenue, narrower loss

Verint Systems said it will spend almost $65

Verint Systems said it will spend almost $65 million to acquire Foresee. Credit: Steve Pfost

Shares of Verint Systems Inc. rose  Friday after the Melville company posted higher revenue and a narrower net loss in the first quarter.

The stock  gained 0.9 percent to close Friday at $44.45. Shares were trading at $43.45 12 months ago.

The maker of software used by corporations to run call centers and by government agencies to track suspected terrorists and drug traffickers reported revenue of $289.2 million in the period ended April 30 compared with $261 million in the 2017 period.

In an earnings release after Thursday's market close, Verint reported a net loss of $2.2 million, or 3 cents per diluted share, compared with a net loss of $19.8 million, or 32 cents per diluted share, in the previous year's quarter.

"We are pleased with our first quarter revenue growth of approximately 10 percent," Dan Bodner, Verint chief executive, said in a statement. "We believe our results reflect the successful execution of our growth strategy and our strong competitive position in both customer engagement and cyber intelligence."

For the quarter ended April 30, call center revenue rose to $186.5 million from $170 million in the 2017 period. Cyber intelligence revenue was $102.8 million versus $91 million in the previous year.

Last month Verint officials declined to comment on media reports that said the company was in talks to acquire NSO Group, an Israeli cyberintelligence company, for about $1 billion.

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